Scottish retrofit firm sees turnover triple

Scottish retrofit firm sees turnover triple

Alastair Macphie – managing director of Green Home Systems

Ayrshire-based Green Home Systems has reported a 208% increase in turnover, rising from £6 million to £17m for the year ending 30 June 2024.

The company, specialising in domestic energy efficiency retrofits, attributes its growth to a strategic expansion of its services and partnerships.

Founded in 2014, Green Home Systems installs insulation, air source heat pumps, solar PV systems, and battery storage across Scotland, with a focus on combating fuel poverty. A significant driver of its success has been their work under the Energy Company Obligation (ECO4) Scheme, which now accounts for 70% of its turnover.

This growth is underpinned by partnerships with 19 Scottish local authorities, as well as its continued growth in the Able to Pay private market, with revenue in this stream increasing by 40% compared to the previous year.

Scottish retrofit firm sees turnover triple

Further revenue diversification was successfully delivered through the completion of major social housing retrofit contracts. Since June 2024, the company’s social housing retrofit division has secured additional significant contracts, which will see Green Home Systems improve the energy efficiency of more than 600 properties throughout Scotland for the financial year ending June 2025.

Green Home Systems managing director, Alastair Macphie, said: “We are very pleased with these results and the significant growth achieved across the company.

“This demonstrates the continued success of our strategy to strengthen our market leading position as a reliable and trusted installer of energy efficiency measures across an increasingly diversified business model.”

Green Home Systems chairman, Steven Easton, added: “Last year we celebrated our ten year anniversary. These results demonstrate the strength of the business after a decade of operations, proving the ability of our independent senior management team to deliver upon our diversification strategy and partnership approach.

“As the market opportunity continues to expand, our ambition is to be the partner of choice for homeowners and landlords seeking to improve energy efficiency in their properties. Our mission is to play a significant role in reducing fuel poverty and preparing domestic properties across the UK for net zero.”

In addition to achieving strong commercial growth over the past financial year, Green Home Systems also made a significant number of new appointments, nearly tripling its team size from 33 to 91.

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